"Where is Switzerland? What happened at NSG (Nuclear Suppliers Group)? The Swiss president said they support India, but what happened at Seoul? They backed out," he told reporters here when asked about the government's fight on black money.

India was not able to muster enough support to get admitted in 48-member NSG due to opposition by several countries including Switzerland. In the lead up to the NSG meet at Seoul last week, however, Switzerland had publicly declared support to India.

The European nation, famous for an opaque banking system, is also believed to be home to bulk of Indians' unaccounted black money stashed abroad.

"Every country has its own regulation and you cannot force Switzerland to do what you want," Bajaj said, adding that the government is doing whatever it can in this matter.

He hit out however at the BJP's pre-poll promises to get back all the black money as being "wrong".

In fact, segment leaders like Maruti Suzuki, Tata Motors and Hero MotoCorp have reported de-growth of 34.3 per cent, 45 per cent and 20 per cent, respectively giving a clear indication of a prolonged slowdown in the sector.